This excerpt taken from the PBR 20-F filed Jun 30, 2005.
PFL sells Eligible Products purchased from us or our
affiliates though the following agreements:
Offtake Contracts with Citibank, N.A, as Offtaker, pursuant to which PFL agreed to deliver and sell, and Citibank N.A. agreed to accept and purchase, during each
quarterly delivery period, Eligible Products with a value equal to at least 1.1 times the amounts scheduled to be paid in respect of the Series 2001 and 2003